Understanding the Affordable Housing Challenge

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The U.S. today has a shortage of more than 7.2 million households affordable and available to extremely low income renters.

7.2 Million

In recent years, the need for affordable housing has increased substantially with less than ever supply being created.

COARE is focused on solving the challenges of affordable housing through the acquisition and preservation of the most affordable type of housing in America - Manufactured Housing Communities.

 

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1 in every 5 Households

are earning less then their means and are considered an 'Extremely Low Income Household'

71%

of Extremely Low Income Households

Spend more than half of their earnings on housing and utilities owning little if any assets.

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Development of New Affordable Housing Units Nearly Impossible

Given the ever-increasing cost of land, labor, and materials, development of new affordable housing projects are nearly-impossible without the support of
government provided subsidies and tax incentives

Manufactured Housing Communities are the
Lowest Cost of Housing
in the U.S.

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Manufactured Home

New Home: 

Used / Existing: 

$78,500

$5,000 - $50,000

VS.

Manufactured Home

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$300 - $900

Land Lease: 

VS.

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Single-Family Home

$316,700

$231,700

New Home: 

Used / Existing: 

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Apartment / SFR Rental

Median Rent: 

$1,650

Sources include: National Low Income Housing Coalition, COARE Communities LLC internal estimates, public filings, Zillow United States Home Prices & Values, US Census Bureau; All data as of November 2019